Kemper Corporation (KMPR) · 10+ Years of Financial Ratios

Profitability	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	15.8	16.07	6.92	8.84	18.56	9.43	7.08	1.4	9.97	14.57	33.41	21.05	-6.27	-19.09	-22.61
Return on Assets (%)	1.89	2.18	1.02	1.28	2.78	1.48	1.08	0.21	1.46	1.91	4.33	3	-0.82	-2.13	-2.08
Return on Capital (%)	20.98	16.51	8.56	9.41	13.73	7.71	8.23	- -	7.11	11.25	20.2	13.35	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	11.74	0.93	0.89	0.95	1.06	1.06	1.23	0.77	0.67	4.61	1.24	1.06	1.72	1.27	1.19
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	7.83	9.52	3.31	4.97	12.96	7.29	4.28	0.14	5.92	5.34	13.13	9.81	-4.23	-6.98	-7.06
Profit Margin (%)	5.61	6.73	3.35	4.2	8.97	5.21	3.66	0.67	4.44	5.1	10.54	7.88	-2.08	-5.4	-5.54
Net Income to Common Margin (%)	5.61	6.73	3.35	4.2	8.97	5.21	3.66	0.67	4.44	5.1	10.54	7.88	-2.08	-5.4	-5.54
Effective Tax Rate (%)	28.92	29.62	14.16	25	31.77	29.71	20.04	- -	25.57	5.37	19.72	19.64	- -	- -	- -
Dvd Payout Ratio (%)	41.06	29.71	82.09	61.98	25.59	46	61.97	387.4	41.28	29.94	12.77	19.25	-66.89	-26.46	-29.44
Sustainable Growth Rate (%)	9.31	11.29	1.24	3.36	13.81	5.09	2.69	-4.04	5.85	10.21	29.15	17	-10.46	-24.14	-29.26

Credit	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	561	610	611	611	1,214	1,002	751	1,111	592	909	1,507	1,173	1,122	1,387	1,389
ST Debt	- -	- -	- -	- -	607	250	- -	360	- -	- -	728	- -	- -	- -	- -
LT Debt	561	610	611	611	607	752	751	752	592	909	778	1,173	1,122	1,387	1,389
Total Debt/EBITDA	1.63	23.91	27.38	26.24	47.23	43.17	25.97	56.99	32.54	5.29	24.11	21.32	11.24	19.56	23.71
Net Debt/EBITDA	1.21	19.32	16.12	22.11	44.64	39.89	20.38	51.06	30.03	4.85	21.92	17.58	9.76	16.57	22.61
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	1.43	0.18	0.27	0.27	0.26	0.25	0.27	0.22	0.52	3.96	1.47	1.53	0.45	0.28	1.04
EBITDA-CapEx/Interest Expense	1.43	0.18	-0.01	-0.04	-0.05	0.01	0.1	-0.17	-1.51	0.95	-2.48	-1.44	-0.07	0.04	-0.87
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	242	145	84	86	100	92	108	90	35	43	42	36	219	258	56
Common Equity/Total Assets	12.75	14.42	15.02	14.03	15.95	15.42	15.11	14.35	14.9	11.8	13.99	14.49	11.86	10.37	8.01
Long-Term Debt/Equity (%)	29.28	28.85	27.55	28.28	29.58	35.97	37.67	38.05	28	29.8	19.6	25.7	27.99	56.77	55.46
Long-Term Debt/Capital (%)	33.94	33.6	33.46	35.23	24.92	34.04	38.2	32.83	32.18	40.03	23.42	36.08	38.81	50.01	57.65
Long-Term Debt/Total Assets (%)	6.55	7.3	7.55	7.63	7.93	9.6	9.34	9.15	7.07	7.87	5.99	8.18	7.52	10.38	10.9
Total Debt/Equity (%)	29.28	28.85	27.55	28.28	59.17	47.91	37.67	56.27	28	29.8	37.94	25.7	27.99	56.77	55.46
Total Debt/Capital (%)	33.94	33.6	33.46	35.23	49.84	45.33	38.2	48.55	32.18	40.03	45.34	36.08	38.81	50.01	57.65
Total Debt/Total Assets (%)	6.55	7.3	7.55	7.63	15.85	12.79	9.34	13.54	7.07	7.87	11.6	8.18	7.52	10.38	10.9
Net Debt to Equity	21.78	23.31	16.22	23.83	55.92	44.27	29.56	50.41	25.84	27.34	34.49	21.18	24.3	48.07	52.9
Net Debt/Capital (%)	27.65	29.02	22.84	31.43	48.44	43.38	32.66	45.81	30.46	37.98	42.99	31.75	35.5	45.86	56.49
EBITDA	344	26	22	23	26	23	29	20	18	172	62	55	100	71	59
EBITDA-CapEx	344	26	-1	-3	-5	1	11	-16	-53	41	-105	-52	-16	9	-49
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	1.21	1.15	1.24	- -	3,284.13	666.14	11.16	12.17	12.48	9.87	10.27	11.93	9.98	9.04	- -
Current Ratio	2.64	3.23	2.73	- -	583.93	115.46	2.02	2.07	1.87	2.4	2.71	3.45	2.65	2.7	- -
Quick Ratio	2.64	2.49	2.72	- -	3,633.93	727.97	12.27	13.38	13.73	11.75	12.16	13.9	12.11	11.14	- -
CFO/Avg Current Liab	0.34	0.13	-0.06	0.33	162.8	28.73	0.9	0.52	0.53	0.95	0.76	0.58	0.45	-0.25	-0.33
Common Equity/Total Assets	12.75	14.42	15.02	14.03	15.95	15.42	15.11	14.35	14.9	11.8	13.99	14.49	11.86	10.37	8.01
Long-Term Debt/Equity (%)	29.28	28.85	27.55	28.28	29.58	35.97	37.67	38.05	28	29.8	19.6	25.7	27.99	56.77	55.46
Long-Term Debt/Capital (%)	33.94	33.6	33.46	35.23	24.92	34.04	38.2	32.83	32.18	40.03	23.42	36.08	38.81	50.01	57.65
Long-Term Debt/Total Assets (%)	6.55	7.3	7.55	7.63	7.93	9.6	9.34	9.15	7.07	7.87	5.99	8.18	7.52	10.38	10.9
Total Debt/Equity (%)	29.28	28.85	27.55	28.28	59.17	47.91	37.67	56.27	28	29.8	37.94	25.7	27.99	56.77	55.46
Total Debt/Capital (%)	33.94	33.6	33.46	35.23	49.84	45.33	38.2	48.55	32.18	40.03	45.34	36.08	38.81	50.01	57.65
Total Debt/Total Assets (%)	6.55	7.3	7.55	7.63	15.85	12.79	9.34	13.54	7.07	7.87	11.6	8.18	7.52	10.38	10.9
CFO/Total Liabilities	2.46	0.94	-0.43	1.12	2.18	2.33	3.56	3.86	3.84	6.36	5.97	4.35	3.21	-1.93	-1.31
CFO/CapEx	- -	- -	-1.08	2.48	4.02	5.91	12.08	6.83	3.39	4.13	3.2	3.98	3.03	-3.41	-1.25
Altman's Z-Score	0.77	0.84	0.83	0.86	0.95	0.86	0.79	0.82	0.96	0.95	1.11	1.08	0.93	0.93	0.94

Working Capital	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	- -	13.16	6.58	6.92	7.01	7.46	7.54	7.75	5.43	4.74	4.5	4.43	4.12	4.37
Days Sales Outstanding	- -	- -	27.74	55.48	52.72	52.08	48.94	48.41	47.09	67.27	76.93	81.12	82.33	88.53	83.43
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	1,413	1,501	1,786	1,707	2,287	1,922	1,947	2,305	3,592	4,283	5,129	4,988	3,717	3,136	3,100
- Cash & Cash Equivalents	144	117	251	96	66	76	162	116	46	75	137	206	148	212	64
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	561	610	611	611	1,214	1,002	751	1,111	592	909	1,507	1,173	1,122	1,387	1,389
Enterprise Value	1,434	1,591	1,898	-2,965	-1,425	-2,272	-2,572	-2,098	-1,480	-1,593	-894	-2,527	-3,581	-2,863	3,902
Total Capital	1,654	1,815	1,825	1,735	2,435	2,210	1,965	2,289	1,840	2,271	3,324	3,250	2,891	2,773	2,410
Total Debt/Capital (%)	33.94	33.6	33.46	35.23	49.84	45.33	38.2	48.55	32.18	40.03	45.34	36.08	38.81	50.01	57.65
Total Debt / EV	0.39	0.38	0.32	-0.21	-0.85	-0.44	-0.29	-0.53	-0.4	-0.57	-1.69	-0.46	-0.31	-0.48	0.36
EV/Sales	0.49	0.58	0.76	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.79
EV/EBITDA	4.16	62.38	85.13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	66.58
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	4.28	9.93	40.38	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	4.28	9.93	27.04	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	224.11
Diluted Market Cap	1,408	1,518	1,790	1,723	2,342	1,975	1,960	2,302	3,600	3,886	5,120	5,086	3,750	3,131	3,096
Diluted Enterprise Value	1,826	2,011	2,149	2,238	3,489	2,901	2,549	3,298	4,147	4,720	6,490	6,053	4,724	4,306	4,421
EV per Share	22.99	26.05	31.51	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	60.86
TTM Sales	2,933	2,743	2,495	2,462	2,426	2,197	2,341	2,522	2,722	3,725	5,039	5,201	5,793	5,577	4,915
TTM EBITDA	344	26	22	23	26	23	29	20	18	172	62	55	100	71	59
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	335	160	47	130	191	198	301	568	267	581	572	454	458	-11	-90
TTM Free Cash Flow to Firm	335	160	70	156	221	221	319	603	338	712	740	561	574	51	17

Multiples	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	8.5	8.21	21.35	16.63	10.73	17.22	22.84	136.87	29.64	20.23	9.54	12.2	- -	- -	- -
Price/Earnings Average	6.19	8.52	19.96	17.16	8.98	17.18	22.6	104.78	20.33	21.68	9.82	11.56	-37.68	-10.73	-11.62
Price/Earnings High	8.8	10.22	22.47	18.58	10.66	18.87	24.79	137.79	29.64	25.83	11.11	13.39	-44.12	-13.27	-15.61
Price/Earnings Low	3.04	7.25	16.05	15.93	7.89	15.48	20.62	72.47	15.59	16.38	8.07	8.97	-28	-8.74	-9.23
Price/Book Value	1.29	1.25	1.47	1.52	1.87	1.59	1.6	1.96	2.88	3.14	2.82	2.4	2.1	2.26	3.04
Price/Book Value Average	0.94	1.29	1.38	1.57	1.57	1.59	1.59	1.5	1.97	3.37	2.9	2.27	2.54	2.33	3.1
Price/Book Value High	1.34	1.55	1.55	1.7	1.86	1.74	1.74	1.97	2.88	4.02	3.29	2.63	2.98	2.89	4.17
Price/Book Value Low	0.46	1.1	1.11	1.46	1.38	1.43	1.45	1.04	1.51	2.55	2.39	1.76	1.89	1.9	2.46
Price/Tangible Book Value	0.89	0.83	0.94	0.92	1.31	1.08	1.17	1.39	2	2.21	1.79	1.45	1.38	2.74	3.31
Price/Tangible Book Value Average	0.65	0.86	0.88	0.95	1.1	1.08	1.15	1.07	1.37	2.37	1.85	1.37	1.67	2.83	3.38
Price/Tangible Book Value High	0.92	1.04	0.99	1.03	1.31	1.18	1.27	1.4	2	2.82	2.09	1.59	1.95	3.5	4.55
Price/Tangible Book Value Low	0.32	0.74	0.71	0.88	0.97	0.97	1.05	0.74	1.05	1.79	1.52	1.06	1.24	2.31	2.69
Price/Sales	0.48	0.55	0.72	0.7	0.96	0.9	0.84	0.91	1.32	1.03	1.01	0.96	0.65	0.56	0.63
Price/Sales Average	0.35	0.57	0.67	0.72	0.81	0.9	0.83	0.7	0.9	1.11	1.03	0.91	0.78	0.58	0.64
Price/Sales High	0.49	0.69	0.75	0.78	0.96	0.98	0.91	0.92	1.32	1.32	1.17	1.06	0.92	0.72	0.86
Price/Sales Low	0.17	0.49	0.54	0.67	0.71	0.81	0.76	0.48	0.69	0.84	0.85	0.71	0.58	0.47	0.51
Price/Cash Flow	8.56	25.92	-71.47	26.17	19.14	14.76	9.1	9.56	14.9	7.12	9.42	11.77	10.69	-14.89	-23.07
Price/Cash Flow Average	6.23	26.9	-66.83	27.01	16.01	14.72	9.01	7.32	10.21	7.63	9.69	11.15	12.95	-15.37	-23.56
Price/Cash Flow High	8.86	32.26	-75.23	29.25	19	16.17	9.88	9.62	14.9	9.09	10.97	12.91	15.16	-19	-31.66
Price/Cash Flow Low	3.06	22.88	-53.73	25.07	14.07	13.27	8.22	5.06	7.83	5.77	7.96	8.65	9.62	-12.52	-18.71
Price/Free Cash Flow	8.61	25.95	-994.38	18.69	15.36	12.65	8.42	8.35	11.55	5.79	7.25	9.56	8.04	-21.06	-116.38
Price/Free Cash Flow Average	6.27	26.94	-929.84	19.29	12.84	12.62	8.33	6.39	7.92	6.21	7.46	9.06	9.74	-21.74	-118.86
Price/Free Cash Flow High	8.92	32.31	-1,046.7	20.89	15.25	13.86	9.14	8.41	11.55	7.4	8.44	10.49	11.4	-26.87	-159.7
Price/Free Cash Flow Low	3.08	22.91	-747.54	17.9	11.29	11.37	7.6	4.42	6.07	4.69	6.13	7.03	7.24	-17.71	-94.38
EV/Sales	0.49	0.58	0.76	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.79
EV/Sales Average	0.49	0.75	0.81	0.92	1.26	1.29	1.07	1.09	1.11	1.46	1.32	1.09	0.94	0.79	0.91
EV/Sales High	0.64	0.86	0.9	0.98	1.41	1.38	1.15	1.31	1.52	1.69	1.46	1.24	1.08	0.93	1.14
EV/Sales Low	0.31	0.66	0.68	0.87	1.17	1.21	1	0.88	0.89	1.15	1.13	0.89	0.75	0.68	0.78
EV/EBITDA	4.16	62.38	85.13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	66.58
EV/EBITDA Average	4.2	80.42	91.02	97.74	119.07	122.56	87.04	141.54	165.36	31.55	106.35	103.45	54.84	62.22	76.64
EV/EBITDA High	5.46	92.6	100.44	104.02	133.02	130.67	93.5	170.04	227.4	36.66	117.47	117.05	62.54	73.01	95.2
EV/EBITDA Low	2.68	71.28	76.34	92.3	110.06	114.38	81.21	113.64	133.81	25.02	91.29	84.25	43.26	53.76	65.51
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	22.66	24.58	29.65	29.21	41.1	36.67	37.93	44.95	69.8	66.14	76.94	76.22	58.36	49.06	48.35
High Price	23.46	30.6	31.21	32.65	40.81	40.18	41.17	45.25	69.8	84.45	89.58	83.61	82.72	62.61	66.35
Low Price	8.1	21.7	22.29	27.98	30.21	32.97	34.25	23.8	36.7	53.55	65.03	56.04	52.5	41.26	39.21
Enterprise Value	1,434	1,591	1,898	-2,965	-1,425	-2,272	-2,572	-2,098	-1,480	-1,593	-894	-2,527	-3,581	-2,863	3,902
Enterprise Value Average	1,447	2,051	2,030	2,277	3,060	2,844	2,516	2,760	3,009	5,423	6,647	5,690	5,473	4,411	4,491
Enterprise Value High	1,881	2,361	2,240	2,424	3,418	3,032	2,702	3,316	4,139	6,303	7,342	6,438	6,242	5,176	5,579
Enterprise Value Low	923	1,818	1,702	2,151	2,829	2,654	2,347	2,216	2,435	4,302	5,705	4,634	4,317	3,812	3,839

Per Share Data Items	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	62	61	60	58	56	52	51	51	51	65	67	65	64	64	64
Diluted Weighted Avg Shares	62	62	60	59	57	54	52	51	52	59	67	67	64	64	64
Basic Weighted Avg Shares	62	62	60	59	57	54	52	51	51	58	66	66	64	64	64
Revenue per Share	47.49	44.48	41.4	41.84	42.68	40.86	45.36	49.3	53.02	64.06	76.49	79.24	90.14	87.38	76.76
EBITDA per Share	5.57	0.41	0.37	0.4	0.45	0.43	0.56	0.38	0.35	2.96	0.95	0.84	1.55	1.11	0.92
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	2.67	2.99	1.39	1.76	3.83	2.13	1.66	0.33	2.35	3.27	8.06	6.25	-1.88	-4.72	-4.25
Basic EPS from Cont Ops	2.63	2.98	1.18	1.56	3.77	2.09	1.55	0.25	2.34	3.24	8.06	6.25	-1.88	-4.72	-4.25
Diluted EPS, GAAP	2.65	2.99	1.39	1.75	3.82	2.13	1.66	0.33	2.34	3.24	7.98	6.14	-1.88	-4.72	-4.25
Diluted EPS from Cont Ops	2.61	2.98	1.17	1.56	3.76	2.09	1.55	0.25	2.32	3.21	7.98	6.14	-1.88	-4.72	-4.25
Dividend per Share	1.08	0.89	0.97	0.97	0.97	0.96	0.96	0.96	0.96	0.97	1.03	1.2	1.25	1.25	1.25
Cash Flow per Share	2.65	0.95	-0.41	1.12	2.15	2.48	4.17	4.7	4.69	9.29	8.17	6.48	5.46	-3.29	-2.1
Free Cash Flow per Basic Share	2.65	0.95	-0.8	0.67	1.61	2.06	3.82	4.01	3.3	7.04	5.62	4.85	3.66	-4.26	-3.78
Cash & Equivalents per Share	8.67	8.52	8.28	90.4	88.52	99.12	102.67	107.55	110.06	104.78	112.95	132.76	132.2	115.56	9.16
Book Value per Share	17.53	19.73	20.15	19.23	21.95	23.04	23.65	22.97	24.25	21.03	27.26	31.75	27.78	21.69	15.92
Tangible Book Value per Share	25.43	29.5	31.61	31.65	31.26	33.94	32.52	32.22	34.83	29.92	42.87	52.71	42.33	17.88	14.59

Kemper Corporation

KMPR US

57.87